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29295130 No.29295130 [Reply] [Original]

I'm thinking about dumping my whole portfolio into this shit and staking, kraken gives u +12% twice a week for staking DOT it literally sounds too good to be true

>> No.29295297

>>29295130
The Kraken staking is a scam, you know they are just taking all your dot and then gonna stake it for a parachain lease? You can do that yourself if you put your dot in the Polkadot Web Wallet. You can earn up to 20% APY for staking your Dot in support of a validator, or you can wait the parachain auctions and then support a parachain with your dot. For example, if you support Acala Network and stake your dot for 1 year in their parachain auction then you will receive 30% APY on your Dot which will be given to you instantly and you will recieve ACA (Acala tokens) on a 1:1 ratio of your dot. A lot of parachains are only offering their token ICO's through parachain leases. Don't miss the opportunity when auctions happen, you will make a lot of money.

>> No.29295324

>>29295130
Zero.Exchange release their Polkadot bridge soon. For the launch and to drive liquidity they will offer APY much higher than 12%. Keep an eye out for it.

>> No.29295347

>>29295297
wow I did not know bout this, thanks for the info anon

>> No.29295492

>>29295130
they give you 12% a year, tard.

>> No.29295587

>>29295492
I literally get cosmos staking rewards twice a week, nigger

>> No.29295601

>>29295130
Just put it on your cold wallet retard

>> No.29295694

>>29295587
you get a fraction twice a week of whatever you're getting annually you fucking retarded niggerfaggot.
maybe go back to elementary school and learn maths before trying this whole crypto thing.

>> No.29295727

>>29295587
You really are low IQ aren't you? How about you re-read what you posted originally, then read this persons response. Do you see why you aren't gonna make it here?

>> No.29295787

>>29295297
Nice, thank you! I only have 111 DOT, would it still be worthwhile?

>> No.29295799

>>29295130
>sounds too good to be true
it is
do it and get rekt

>> No.29295817

>>29295130
>+12%
CZ gives 15.79%
12% is a scam

>> No.29295867

>>29295130
I mean I do this because I’m retarded and can’t figure out how to do it any other way

>> No.29296019

>>29295587
lmao

>> No.29296062

>>29295297
yeah but with Kraken I can unstake it within minutes and dump it if I want to

>> No.29296090

>>29295817
weekly?

>> No.29296200

>>29295130
first off this is not a scam, been staking on kraken since buying DOT at $4, 8$, 15$, 30$

it's obviously 12% for the whole year, not twice a week, but ya for example 2k DOT right now staking will be giving you 600-700$ a month in passive income...too good to be true and yet it is very much true

but you are getting paid essentially every 1-3days in new DOT, and you can go check it and you withdraw it, etc, no problem....

>>29295297
as for this....i am also looking into this, while i continue staking on kraken, but for now most dot wallets are clunky, also if the validator you choose fucks something up your rewards will not happen (because their rewards will also not happen), it's called slashing...also your DOT are locked for 28days after your withdraw, whereas on kraken there is no lock, and it's super easy...

but ya eventually i wanna get off kraken..

>>29295297
maybe anon can give us more specifics? which wallet exactly, validators? how can one support these launches (like Acala for example...?)...

>> No.29296380

I bought 500 at 9 bucks and I hope it dumps because I want the full 1000 stack to stake. Mine are on kraken for now but I dont plan on selling anytime soon. I'm thinking this is a long term hold.

>> No.29296639

>>29295297
So in order to participate in a parachain auction you have to stake on the WEB wallet? Are you sure that this is how it works?

Most teams will lend their tokens from the users anyways. I have read that you have to unstake your token and lend it to them.

>> No.29296931

>>29296200
I don't know the exact details but Kusama Parachain auctions are coming in March and will take place before Dot auctions. Some examples of KSM parachain schedules:
>Karura
https://acala.network/kar-crowdloan
>Robonomics
https://robonomics.network/blog/robonomics-parachain-lease-offering/
>Phala (skip to page 14)
https://files.phala.network/phala-token-economics-en.pdf
>>29295787
Depends if you're happy staking your dot for 1 year but if you think the parachain token will do well then it will be obviously worth it

>> No.29296999

>>29296639
Yes you will need to unstake and lend it to them via a web wallet.

>> No.29297077

>>29296200
The real rate is 14% if you do it yourself. Not hard

>> No.29297185

>>29296999
so it makes no big difference. One side earns more rewards, but the other side is more flexible.

>> No.29297430

>>29296999
I guess but Dot isnt for selling in my opinion. If you're in it for this cycle only then fine but Dot is going to be multi-cycle like Ethereum.

>> No.29297449

>>29295297
Yeah but you just said you have to stake it up for a full year? Totally not worth it then. With Kraken I can unstake instantly for no fees. I don’t want to miss selling near the top later this year because my shit is locked up. Staking that requires you to lock up your funds is a meme that is almost never a good idea

>> No.29297779

>>29297449
I don´t give a fuck, I will give a certain project my tokens for 2 years, I don´t have many anyways

>> No.29298559

>>29297779
so when you "lend" to a project to lock it up for a year, are the funds still staying in your wallet?

and just to confirm, by doing that, do you get the staking rewards on your DOT as well as the airdrop or whatever its called for the project you have been lending you?

also, any way you to find out who are the best validators??

thanks anon

>> No.29298777

>>29298559
>so when you "lend" to a project to lock it up for a year, are the funds still staying in your wallet?
No your funds will go to the parachain lease vault assuming your project wins the auction.
>and just to confirm, by doing that, do you get the staking rewards on your DOT as well as the airdrop or whatever its called for the project you have been lending you?
Every project has their own rules but in general you will receive 20% APY on your dot AND you will also recieve the ICO tokens for that parachain. For example one project might say we will pay your APY% and airdrop straight away, meaning if you chose to support a project with 100 DOT, you would recieve 20 DOT instantly and also 100 ICO tokens, but your 100 DOT will be stuck for 6 months - 2 years.

>> No.29299653

>>29298777
ok i see, thanks anon

last question: is there a site yet where we can find out about which projects are going to go for a parachain, how much they want, etc, basically an overall site, instead of hunting out different potential projects..? or is that only for Kusama for now?

>> No.29299926

>>29297779
Ngmi, if you don’t have many that’s not the way to increase your stack. You could sell around $100-200 later this year and buy back in less than $100 during the bear market. Instead you’ll watch it moon to $200 then drop back down to $80 or something

>> No.29300280

Why is there so few spots for Binance staking?